Two-Story Standalone Retail
223 17th St Virginia Beach, VA 23451
223 17th St, Virginia Beach, VA, 23451
Contact for pricing
For Sale
Contact for pricing
Standalone two-story retail building offers flexible open floor plans with updated interior renovations.
Property Size5,742 SF
Price / SF$278.65
Days on Market84
Property Features for 223 17th St
General Information
- Standard status
- Active
- Size
- 5,742 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1936
Listing agency
Commonwealth Commercial Partners
(804) 346-4966
Listed by
Gresh Wall · License #VA
Source
Crexi
Added: Apr 29 Updated: Jul 21 at 4:26PM Checked: Jul 21 at 4:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commonwealth Commercial Partners
Investment Insights
Based on property information with market context.
223 17th Street is a standalone, two-story commercial building totaling 5,742± RSF. The property features an open, flexible floor plan with efficient 2,807 RSF floor plates, and it has benefited from recent interior renovations.
The building is located in the Virginia Beach Oceanfront District. Its standalone configuration can support a range of retail layouts that benefit from flexible, open space within each floor plate.
The offering includes a practical two-level arrangement designed to accommodate adaptable tenant requirements within the existing interior renovations and open floor plan.
The building is located in the Virginia Beach Oceanfront District. Its standalone configuration can support a range of retail layouts that benefit from flexible, open space within each floor plate.
The offering includes a practical two-level arrangement designed to accommodate adaptable tenant requirements within the existing interior renovations and open floor plan.
Key Highlights
- Standalone two‑story commercial building with 5,742± RSF total building area
- Open, flexible floor plan with efficient ±2,807 RSF floor plates
- Recent interior renovations
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.6k | $15.60 |
| − Vacancy | −$3.7k | −$0.64 |
| EGI | $85.9k | $14.96 |
| − OpEx | −$25.8k | −$4.49 |
| NOI | $60.1k | $10.47 |
5,742 SF · lease $15.60/SF/yr · vacancy 4.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$859.0K
$751.7K – $1.00M
NOI $60,132 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,110 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Standalone two-story retail building offers flexible open floor plans with updated interior renovations.
Where is this retail space located?
The property is located at 223 17th St Virginia Beach, VA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Standalone two‑story commercial building with 5,742± RSF total building area; Open, flexible floor plan with efficient ±2,807 RSF floor plates; Recent interior renovations
